Kentucky Retirement Systems Has $1.16 Million Holdings in Deckers Outdoor Corporation (NYSE:DECK)

Kentucky Retirement Systems cut its holdings in shares of Deckers Outdoor Corporation (NYSE:DECK) by 1.2% in the first quarter, HoldingsChannel reports. The fund owned 10,355 shares of the textile maker’s stock after selling 122 shares during the quarter. Kentucky Retirement Systems’ holdings in Deckers Outdoor were worth $1,158,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Deckers Outdoor by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,001,033 shares of the textile maker’s stock worth $203,300,000 after acquiring an additional 32,318 shares during the period. Amundi boosted its position in Deckers Outdoor by 11.0% during the 4th quarter. Amundi now owns 1,088,351 shares of the textile maker’s stock worth $225,855,000 after acquiring an additional 108,054 shares during the period. HighTower Advisors LLC raised its stake in shares of Deckers Outdoor by 13.7% during the 4th quarter. HighTower Advisors LLC now owns 56,276 shares of the textile maker’s stock worth $11,429,000 after purchasing an additional 6,788 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Deckers Outdoor during the 4th quarter worth about $30,687,000. Finally, Gitterman Wealth Management LLC purchased a new stake in shares of Deckers Outdoor during the 4th quarter worth about $434,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DECK. Citigroup cut their price target on Deckers Outdoor from $215.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Argus began coverage on Deckers Outdoor in a research note on Friday, June 13th. They set a “hold” rating for the company. Telsey Advisory Group downgraded Deckers Outdoor from an “outperform” rating to a “market perform” rating in a research note on Friday, May 23rd. Barclays reaffirmed an “overweight” rating and set a $128.00 price target (down from $129.00) on shares of Deckers Outdoor in a research note on Thursday, May 22nd. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Deckers Outdoor in a research note on Friday, May 23rd. Fourteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $134.68.

Deckers Outdoor Stock Up 1.7%

Shares of NYSE DECK opened at $102.19 on Wednesday. The business’s 50 day moving average is $111.40 and its two-hundred day moving average is $145.53. The company has a market cap of $15.27 billion, a P/E ratio of 16.11, a P/E/G ratio of 6.10 and a beta of 1.02. Deckers Outdoor Corporation has a 12 month low of $93.72 and a 12 month high of $223.98.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, topping the consensus estimate of $0.57 by $0.43. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 EPS. Sell-side analysts expect that Deckers Outdoor Corporation will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor announced that its board has initiated a share repurchase plan on Thursday, May 22nd that permits the company to buyback $2.25 billion in outstanding shares. This buyback authorization permits the textile maker to purchase up to 11.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Maha Saleh Ibrahim sold 300 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $109.08, for a total transaction of $32,724.00. Following the sale, the director now directly owns 10,681 shares in the company, valued at approximately $1,165,083.48. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Angela Ogbechie sold 6,244 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $103.89, for a total value of $648,689.16. Following the sale, the insider now owns 19,980 shares in the company, valued at approximately $2,075,722.20. This represents a 23.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

Deckers Outdoor Profile

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities in the United States and internationally. The company offers premium footwear, apparel, and accessories under the UGG brand name; footwear, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.